All posts in Connecticut News

When Stonington residents voted Tuesday to allow cannabis businesses to operate, the town became the first municipality in southeastern Connecticut to clearly state where it stands on the issue. Groton Town Manager John Burt said he had been watching the vote in Stonington. “I think it’s a sign of how much more socially acceptable the use of cannabis is today,” he said. Other towns and cities in the region are considering whether to prohibit or regulate cannabis sellers. Under a July 1 state law that legalized the use of recreational marijuana in Connecticut as well as the sale, growth and production of cannabis products, the decision to prohibit or regulate such businesses are up to the towns and cities. Without…

When Stonington residents voted Tuesday to allow cannabis businesses to operate, the town became the first municipality in southeastern Connecticut to clearly state where it stands on the issue. Groton Town Manager John Burt said he had been watching the vote in Stonington. “I think it’s a sign of how much more socially acceptable the use of cannabis is today,” he said. Other towns and cities in the region are considering whether to prohibit or regulate cannabis sellers. Under a July 1 state law that legalized the use of recreational marijuana in Connecticut as well as the sale, growth and production of cannabis products, the decision to prohibit or regulate such businesses are up to the towns and cities. Without…

When Stonington residents voted Tuesday to allow cannabis businesses to operate, the town became the first municipality in southeastern Connecticut to clearly state where it stands on the issue. Groton Town Manager John Burt said he had been watching the vote in Stonington. “I think it’s a sign of how much more socially acceptable the use of cannabis is today,” he said. Other towns and cities in the region are considering whether to prohibit or regulate cannabis sellers. Under a July 1 state law that legalized the use of recreational marijuana in Connecticut as well as the sale, growth and production of cannabis products, the decision to prohibit or regulate such businesses are up to the towns and cities. Without…

Tilray’s quarterly revenue missed expectations Welcome back to our weekly series, Schaeffer’s Cannabis Stock News Update, where we recap what happened in the world of marijuana stocks and look ahead to how the cannabis industry continues to shape up in 2021. Investor interest in the cannabis industry is growing at an explosive rate, and the leading players continue to break through legal barrier after legal barrier, especially in the United States. More than 40 U.S. states legalized recreational and/or medical marijuana by the end of 2020. Now, companies are starting to see the opportunity in cannabis cultivation, marketing, distribution, and technology….

“They need to source capital,” said council member Joseph Williams. “One of the biggest things around social equity that has eluded us is the lack of capital and I find we really need to address that as quickly as possible.” Members of the state’s Social Equity Council are responsible for making sure the sale of recreational marijuana in Connecticut provides business opportunities for low-income and communities of color that are disproportionately impacted by drug policing. The council plans give anyone with a previous marijuana arrest or conviction to receive priority for a license to sell regardless of their wealth as…

Federal law restricts most banks from providing loans and other financing for marijuana businesses. A Connecticut social equity council wants the state to charter new banks to back the state’s cannabis industry. Members of the state’s Social Equity Council are responsible for making sure the sale of recreational marijuana in Connecticut provides business opportunities for low-income and communities of color that are disproportionately impacted by drug policing. “They need to source capital,” said council member Joseph Williams. “One of the biggest things around social equity that has eluded us is the lack of capital and I find we really need…

Blockbuster hemp ingredient CBD is now officially legal in California in dietary supplements, foods, beverages and cosmetics, as Gov. Gavin Newsom signed AB45 into law. It was an arduous, three-year process for the bill to wind through the state legislature, which passed the bill on Sept. 10. Related: California legalizes CBD, but it’s not all roses for hemp producers “After months of negotiation between the various stakeholders, that day is finally here,” according to an email from the Amin Talati Wasserman law firm, which represents many hemp and CBD companies. “The majority of requirements under the new law are similar…

Another California city has effectively decriminalized a wide range of psychedelics, with the Arcata City Council unanimously approving the reform on Wednesday. The 5-0 vote means that the possession, cultivation and distributions of entheogenic substances like psilocybin and ayahuasca will be among the city’s lowest law enforcement priorities. The measure further calls on the Humboldt County District Attorney “to consider the spirit and intent of this resolution when evaluating whether to prosecute persons involved in the use of Entheogenic Plants and Fungi.” It explicitly states that the commercial sale and manufacturing of psychedelics, as well as driving under the influence,…